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PSI Corp. Reviews Its Recent Progress
Tuesday 06/24/2008 8:00 AM ET - Pr Newswire
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Symbol Last %Chg
PSCP 0.25 13.64%
As of 2:09 PM ET 6/24/08
PSI Corp. (OTC Pink Sheets: PSCP) is pleased to review its recent progress.
PSI, for the first time since discontinuing its friendlyway, Inc. business on May 1, 2006, is proceeding with the implementation of its business plan. PSI announced this past week the placement of an additional twenty-four digital screens to increase to eighty-four the number previously deployed. PSI plans to accelerate the placement of digital screens both in New York City and nationally in cooperation with Hospital Media Network. PSI has seen an increase in both local and regional advertising attributable to appreciation of PSI's technology and blend of proprietary programming.
Equally important is the roll-out of a limited number of PSI's E-Banking Kiosks. Such Kiosks enable users as follows: to purchase gifts cards, phone cards and debit cards; to obtain standard ATM services; and to permit bill paying and payroll check cashing among its many innovative features. Each Kiosk will have a 32 inch state-of-the-art digital screen with advanced program capability. The Kiosks will be undergoing ninety-day field tests in selected areas. Thereafter, PSI believes that the substantial indications of interest already received from supermarket and convenience stores and from credit unions will result in eventual purchases of the PSI Cash Express(TM) Kiosks/ATM.
As previously reported in a Form 8-K filing dated April 11, 2008, PSI has retained new auditors to conduct the two-year audit for the period ended October 31, 2007. Such audit is expected to be completed shortly. Once this audit is completed and PSI is then current in its 10-KSB and 10-QSB filings with the SEC, application will be made to NASDAQ to have PSI relisted on the Bulletin Board.
Lastly, PSI intends to issue a proxy statement incident to the calling of an annual meeting of shareholders as soon as the audit is completed and the proxy rules may be complied with.
David Foni, Chairman and CEO of PSI, stated that "Management has devoted the past eighteen months to the resolution of problems inherited from prior management, including the successful termination of litigation, the elimination of payables, the cancellation of shares of Common Stock, and the rescission of improvident transactions consummated by prior management. Nonetheless, development of PSI's two proprietary products has proceeded apace. Management believes that PSI will shortly be able to demonstrate positive cash flow."
About PSI Corp.: provides interactive customer communications systems and applications that support the targeted marketing programs at point-of-purchase (POP) service and information. The company has two vertical products; full motion video digital signage and full service Cash Express(TM) Kiosks/ATM. For more information please visit the company website: www.pantelsystems.com
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from those statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this release that are not purely historical are forward-looking statements, beliefs, plans, expectations or intentions regarding the future. Risk factors that may cause results to differ from projections include, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices, and other economic factors. The Company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. Investors should independently investigate and fully understand all risks before making investment decisions.
For further information:
David Foni (719) 359-5533
SOURCE PSI Corp.
http://www.pantelsystems.com
What's up with the crazy bid / ask all week? 15 cents on the bid and 23 cents on the ask.... Why the huge spread all of a sudden? What does this type of activity mean? they also had another announcement of 2 new hospitals using the product.. glta
Fantastic news release:
PSI Corp. Announces Additional Hospitals and Medical Office Buildings to Utilize Its Digital Signage Network
Monday 04/28/2008 11:35 AM ET - Pr Newswire
As of 12:00 AM ET 4/25/08
PSI Corp. (Pink Sheets: PSCP) is announcing that Hospital Media Network (HMN), its partner in the Digital Signage Network, has signed additional facilities which will utilize the PSI Digital Signage Network.
David Foni, Chairman and CEO of PSI Corp. stated, "These additional locations in South Carolina and Texas are accretive to PSI's network in more than just additional revenue. These new facilities will permit PSI's advertisers to communicate to patients, visitors and staff outside of PSI's New York City existing locations."
David Foni further said, "What is equally good news is that HMN has successfully signed on different types of advertisers whose ads will run on the New York City Hospitals starting May 1."
Christopher Culver, CEO of HMN added, "The Hospitals and Medical Office Buildings in South Carolina and Texas is just the beginning. HMN has a number of additional proposals for PSI's Digital Signage Network being reviewed currently. I believe that expansion of the network will continue at a brisk cadence."
About PSI Corp.: provides interactive customer communications systems and applications that support the targeted marketing programs at point-of-purchase (POP) service and information. The company has two vertical products: full motion video digital signage and full service Cash Express(TM) Kiosks/ATM. For more information please visit the company website: www.pantelsystems.com
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this release that are not purely historical are forward-looking statements, beliefs, plans, expectations or intentions regarding the future. Risk factors that may cause results to differ from projections include, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices, and other economic factors. The Company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. Investors should independently investigate and fully understand all risks before making investment decisions.
For further Information:
David Foni (719) 359-5533
Lot's of great things going on with this company! The press releases contain all the details.
I wonder when we will hear what happened with the trade show. Also, it looks like they are getting orders for kiosks and ATM machines.. which is always good! Partnering with software companies is fantastic! They also are getting a new accounting firm.
The stock has been getting increased volume and the price has steadily been rising..
Good luck to all!
That's exciting... go VLNT!
VOLUME.. sorry bout that
Why all the colume since they announced a new accounting firm? The last time the volume was this high, it shot up over 20 cents..
The volume has been pretty good and rather steady since they announced the new accounting firm. There is also another announcement today clarifying some things about the accounting firms, both the previous and the new..
any ideas of what this all means? I was wondering if it means a sale of the company is in the works? or is it just housecleaning to be able to report accurately all the revenues they made last year?
any comments would be appreciated.
Another lawsuit settled.. there has been nothing but good news from the company lately! Now we need to find out what the revenues were.. and the specifics about all the machines the credit union ordered.. Good luck everyone.
Another lawsuit resolution! I must admit that I had not known about the last 2 lawsuits that were pending and have been resolved.. but, hey! this must be good, eh? It is great to get all these distractions out of the way and get down to some serious business!
Still waiting for some good news about revenue.
Lawsuit resolutions! I am glad to see these lawsuits cleared up and resolved. This has got to be really good for the company and must be the reason the stock price has doubled over the past month.. good luck to all.
Item 8.01. Other Events.
On September 28, 2007, PSI Corporation (the "Company") and Blue Jeans Equities West ("Blue Jeans") reached a mutually-agreeable resolution of the litigation between them. Blue Jeans had filed the lawsuit against the Company in California Superior Court in September 2006. The confidential settlement between the Company and Blue Jeans resolves all differences between them
On September 20, 2007, PSI Corporation (the "Company") and each of Alexander von Welczeck, Henry Lo, Michael Draper and Derma Plus, Inc. (the "Defendants") reached a mutually-agreeable resolution of the litigation between them. In June 2007, the Company had filed a lawsuit against the Defendants and others in United States District Court.
The confidential settlement between the Company and the Defendants resolves all differences between them. As part of the resolution, the Company agreed to dismiss the lawsuit as to certain nominal defendants.
On September 19, 2007, PSI Corporation (the "Company") and friendlyway AG ("firndlyway") reached a mutually-agreeable resolution of the litigation between them. friendlyway had initiated the litigation in April 2007 by filing a lawsuit against the Company in California Superior Court, which was later removed to United States District Court. In June 2007, the Company brought counterclaims against friendlyway and also filed a separate lawsuit against friendlyway and others in United States District Court.
The confidential settlement between the Company and friendlyway resolves all differences between them. The other defendants to the Company's lawsuit are not parties to the settlement.
I actually called the company about 2 weeks ago and they seemed excited.. They had a new hire at the front desk but I forgot to ask if they were hiring in other areas.. When I asked to speak with someone about the stock the receptionist gave me the number for their investment banker, who conferenced me in with the CEO and they were guarded yet optomistic. (The number I called was (917) 364-4600 and I believe his name is Eric Tesh and that he is with an investment company in Long Island called Basic Investing.
They were looking for investors at the time. They told me to call in mid October and they would invite me to tour the facilities in Colorado Springs. It seemed as if they were wanting to say things were going well. I live about 125 miles from them.. I did not want to post prior to this because I do not want to seem like a pump and dump.. or get in trouble. I did buy more after talking with them.. it sure does move up on a little bit of volume though!
Good luck to all
(O2opida.. I am sorry I have not responded to your request. .I am not a full time member and am unable to help facilitate this board..) BigAssCaddy
Press Release:
28-Sep-2007
Other Events
Item 8.01. Other Events.
On September 19, 2007, PSI Corporation (the "Company") and friendlyway AG ("firndlyway") reached a mutually-agreeable resolution of the litigation between them. friendlyway had initiated the litigation in April 2007 by filing a lawsuit against the Company in California Superior Court, which was later removed to United States District Court. In June 2007, the Company brought counterclaims against friendlyway and also filed a separate lawsuit against friendlyway and others in United States District Court.
The confidential settlement between the Company and friendlyway resolves all differences between them. The other defendants to the Company's lawsuit are not parties to the settlement
Hello folks! Why the sudden interest?
Daily volume is steady and above the moving average.. That is a good sign.. I always heard that "Volume preceeds price". Good luck everyone
Results of the 2006 audit should be released soon. The press release says in June. I also see that they are involved in some litigation with a partner? What is the relationship to Friendlyway AG? It seems as these are some of the same people who lent the company money.
I wonder if this is related to the audit? and how it will turn out for Pantel?
http://biz.yahoo.com/e/070612/pscp.pk8-k.html
I like that the CEO lent the company his money.. It shows that he believes in them and his leadership. It also seems that the kiosk industry is more important than first glance would indicate..
They also have some nice looking cash machines. I will be looking to see which brands the stores have in them.
Has anyone seen any of their machines in operation somewhere?
Good luck everyone!
Something is going on.. I went to buy some more this morning and there is no bid or ask.. and Scottrade says "Buys are not allowed for this security".
I bought some yesterday and a few shares last week with this same account.. so somethinig is up! Hope it is good.
Congressman William jefferson... is in the news again. The bribery scandal is hitting the news recently and it is interesting that Vernon Jackson from VLNT paid him almost $200,000 in bribes (I believe) I wonder how much the future of VLNT and Jackson is tied into this bribery scandal. Hopefully this will let any legal issues pass by and allow the mystery owners of VLNT to continue with their game plan..
I seem to remember someone here was contacting Avistar regarding the Videolan trademark.. perhaps they can ask that contact about VLNT's patents to see if Avistar aquired any of them?
New AVISTAR filing....
http://biz.yahoo.com/e/070322/avsr10-k.html
I wonder IF they are using some of Videolan's patents??
I especially like this part:
License Agreement with Sony Corporation
In July 2006, we entered into a Patent License Agreement with Sony Corporation and Sony Computer Entertainment, Inc.. Under the license agreement, CPI granted Sony Corporation and its subsidiaries a license to all of CPI's patents with a filing date on or before January 1, 2006 for a specific field of use relating to video conferencing. The license covers Sony's video conferencing apparatus as well as other products, including video-enabled personal computer products and certain Sony Computer Entertainment, Inc. PlayStation products.
good luck everyone..
and the hats should go off to Hdog, lindy, VP, V(cubed) and others who have worked very hard on this.. all I did was kick some ideas off of what they were starting to talk about and took off in the trademark direction becasue I like trademarks.
I enjoy being part of such a good group of people. Good luck to everyone.
I honestly do not know the answer to your questions.. I once wanted to start a penny stock education forum and started getting interest in it until the market crashed in 2000.
This is all an education to me and I enjoy watching it. I often wonder when is the best time to sell or buy.. One of my broker friends always told me he liked to see people sell half their shares when the stock doubled and then have 'free' sharers to play with.
I did play one penny stock years ago (prior to my divorce and bancruptcy) where I would buy some at .04 and sell at .09 and so on but it took guts while it rode the roller coaster.. I sold it to buy something else,, went to lunch and it hit 90 cents!!!!!!! and was back down to pennies in a matter of days.
so, i guess the best advice I can give is to use your head, don't get caught up in the 'buy yourself an island' mentality and don't use your kids college fund for penny stock investments.
Right, whatever you do, DO NOT put in a market order on a penny stock. The MM's will salivate and bring the market way up or down to accomidate your individual naiivity.
BTW.. Just to let everyone know, I do hold the stock and believe it is a valid opportunity for many reasons..
One: the shell value has a lot of potential on it's own merits.. and I think people controlling the stock were waiting for the Feb 8th date to pass before moving their remaining pieces into position.
two: The patents still held by VLNT are valid and are being used by some big players. I think it is amazing that an old patent for braided wire connections is so wideley used but they are and that is great for us.
Three: There have been so many lawsuits in the recent past about big companies violating patents of smaller players.. i.e. Blackberry.. I think someone see tremendous potential in these patents.
Four: Avistar, which is a valid, publicily traded company, owns the trademarks for Videolan. They are doing work with IBM and also MAC and GS amongst others.
Five: Back in 1996, I bought the stock because the management said they had a big contract with the Pentagon. In reading the report about the bribery scandal, it mentions that the Senator involved had the defense dept or similar agency, looking into the technology and that they gave their approval. So I think that VLNT had and still has a tremendous product but could not arrange the financing it needed to be a major player. I believe that someone with the necessary financing is now involved.
Six: The Avistar and GS connections are just too real to ignore. Something is gooing on and IMO will be revealed soon to all.
Nice work DAWG!
I sure do love penny stocks.. I bought into this in 1996 when I was working night shift and had a lot of free time on my hands to browse around all the penny stock boards. The only thing missing here is a canadian gold mine connection but the post about the bribery scandal makes me proud to own VLNT..lol.
You guys are doing fantastic DD! and I commend your teamwork. Like a pack of rabid wolves cornering the prey from various directions.. People holding out on you guys don't stand a chance!
Good luck everyone..
Asian Markets / GS and reverse mergers.
I remember seeing an article recently in Business Week about the Chinese liking the status of trading on the US markets via Reverse mergers. I can not find the online link to that article but did find some interesting read by goodling 'reverse mergers:
http://www.thestreet.com/b/rmoney/jamesaltucher/10225809.html
http://www.asiabizblog.com/archives/2006/05/the_continuing.htm
It is interesting that GS is so heavily involved in the Asian markets.. Would they strip off the patents from VLNT and then sell the clean shell to an Asian client?
Even though they are 2 seperate entities, I wonder what the implications are for Videolan using Videolan's Trademark? can you see how that would be confusing to a consumer? U.S. Trademark law allows for the trademark owner to prevent others from using the trademark (here in the U.S.). The trademark owner may even have legitamate claim to any videolan.org domain name, which is being used by the group in Europe.
As an interesting side note.. AVISTAR stock has shot up since we started digging into the connection..
also.. one of the officers of the company had a reported Indirect Disposition of a large chuck of stock on FEB 07, 2007 which was the day before our VLNT expiration date for the share dilution. Another coincidence?
Big, old ones with fins... I have been looking at the Avistar website and financials.. intersting tie ins with the video conferencing.
AVISTAR COMMUNICATIONS: Offers video and document conferencing for Macs, PCs and Unix workstations and includes Siren fax, email and visual directory applications for the enterprise.
www.avistar.com
The $64,000 question is: why are they the owners of the VIDEOLAN trademark?
VIDEOLAN Trademark changed in Oct 2006.
I have been watching all the posts about the patents and was curious about the trademark for VIDEOLAN and was wondering if a recent change of ownership occurred for this trademark. A trademark is the trade name which identifies the goods and services a company provides.
Look for yourself on WWW.USPTO.GOV. Click on TRADEMARKS, then on SEARCH TRADEMARKS, then click the option for 'NEW USER FORM SEARCH (BASIC).. type in Videolan for the SEARCH TERM and you can see the active trademarks for that name. You can view it and do another search when you get to the main screen by clicking on TARR STATUS. The trademark is for "computer hardware and computer operating software for campus and wide area collaboration systems". (These goods and services sound like what Videolan vlt is doing.. and could mean they have a trademark infringement issue here in the U.S.)
It also looks like some kind of change was made on Oct 12, 2006 which seems to be more than a coincidence.
The owner for the VIDELAN tradename is listed as: AVISTAR COMMUNICATIONS CORPORATION. (Any links to GS et all????)
BTW, I bought into this is 1996 or so, right before the big announcement that they were moving to Boston to be in the hi tech area. I still have those shares and recently bought more.. Good luck everyone.